What is the GST applicability when old gold is received from customer??

What is the GST applicability when old gold is received from customer ??

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2 Answer(s)

Sale of old gold will not attract gst on exchange.

Answered on July 19, 2017.
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Banks and nbfc are only custodian of old gold jewellery so, the are not allowed to trade in it they can auction on as is where is basis onlyand make bidders bill as old gold jewellery. no gst must be charged as custodians are not allowed to trade in sale or buying of gold jewellery by RBI.if they charge they will have to payback the gst to their clients with penalty and interest by law.

Answered on July 20, 2017.
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Your Answer

Gen GST